Arya News - The United States intends to develop a critical minerals supply chain resilience action plan with the European Union and Japan, the Office of the US Trade Representative (USTR) said on Wednesday.
Following the Critical Minerals Ministerial earlier on Wednesday, US Secretary of State Marco Rubio said Washington would be signing new critical minerals frameworks with several partners by end of day. The US and the EU have also committed, among others, to reach a Memorandum of Understanding within the next 30 days, to boost critical mineral supply chain security, the USTR said in a separate statement. Another Action Plan on Critical Minerals has been agreed upon with Mexico, the USTR said in another press release. The countries will work to develop coordinated trade policies and mechanisms to reduce critical mineral supply chain vulnerabilities, it added. The countries will identify minerals of interest, study the possibility of applying border-adjusted price limits for imports, and how the latter can be incorporated in a binding trilateral agreement on critical minerals trade, USTR said.